When we hear talk about the market recovering, based on the fact that 24% of mortgages in Florida are in default, one would conclude that "overall" we have a long way to go. But if you are a believer in that old saying "location, location, location" you will not be surprised to see how that will hold true with regard to market stabilization. College Park ranks number three in my study of the following zip codes, having one of the lowest percentages of DISTRESS LISTINGS. The sooner we get through our short sale and bank owned inventory, the quicker we will get on the road to recovery. Here's how it all breaks down:
(These numbers are based on what is reported in MLS)
Rates rose slightly last week. The average rate on a 30 year fixed was 5% and 15 yr. rates rose to an average of 4.43%
CLOSED SALES: 10/19/2009 - 10/25/2009
2016 ELIZABETH AVE: 3/2 - 1,560 sq/ft - $306,000
OTHER MARKET ACTIVITY: 10/19/2009 - 10/25/2009
New Listings: 7
Pending Sales: 7
Price Reductions: 20
ACTIVE LISTINGS: 252
PENDING LISTINGS: 252
VACANT LAND:
ACTIVE: 31
PENDING: 0
SOLD (YTD 10/19/09): 4
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)
2614 WESTMORELAND: $350,000 (lakefront)
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
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